There are no standard business firms without a business development manager. We will be looking at the business development manager’s job responsibilities.
A Business Development Manager
A business development manager is a person who is in charge of improving and growing a business. He/she achieves this purpose by establishing and developing relationships with customers, suppliers, and other partners.
The Business Development Manager (BDM) is usually the first stop-by-point a new potential client comes in contact with when seeking information on the products or services the company in question provides.
They also respond to tenders, RFP’s, and as well develop sales in new sales territories. There are various kinds of business that business management can be applied to. It is left for the manager to choose the sector he/she wants to specialize in.
Such sectors include;
One can also work across various businesses, but must specifically focus on it will be a B2B (business to business) or B2C (business to consumer) model of management.
Qualifications and Skills
Unlike most jobs, the business development manager job does necessarily mount pressures on degree, although it could be a plus.
What companies look out for in prospects to be their business development personnel is mostly experience. The experience could be in sales but generally in marketing, and most have been gotten via apprenticeship and work/part-time study combination.
Apprenticeships vary in levels, and degree level is one of these levels. To gain entrants into the job through degree levels, maybe in places on the graduate training scheme, it could be clear that ‘business management‘ or ‘ business development’ gives a candidate more chances than others who did another course.
Apart from the two most relevant degree courses fore-mentioned, other subjects that one can make do with and still stand a great chance of employment are Economics, Accountancy, Finance, Marketing, Business Studies, International relations.
Also, note that a postgraduate degree isn’t a requirement for this career. One can move into a business development manager role from a related job like; account manager, business development executive, sales executive, commercial manager, and sales manager.
For the skills, you should have a combination of at least three to five of the following;
- Easy to approach
- decision-making skills
- A goal setter and a self-motivator.
- Negotiating skills
- Strategical thinking
- IT skills, including the use of spreadsheets
- teamworking skills and a collaborative approach to work
- Multitasking ability and priority on workload
- project management and organizational skills
- Analytical skills for sales figures and reports composure.
- Quick adaptability to a fast-paced, ever-changing environment
- Confidence and initiative to start things from the beginning.
- an excellent telephone manner for making initial contact and for ongoing communication with customers and business associates
- interpersonal skills for building and developing relationships with clients
- tenacity and drive to seek new business and meet or exceed targets
- written and verbal communication skills – needed for communicating with a range of people, both internally and externally, as well as presentation skills
Let us finally look at what a business development manager ought to do to their job efficiently and not trespass into other workers’ duties.
For sales-oriented business purpose:
- Plan and map out sales campaigns
- create a sales pipeline
- increase sales of the business
- develop business sales and marketing strategy.
- negotiate pricing with customers, and suppliers in some cases
- carry out sales forecasts and analysis and present your findings to senior management/the board of directors
- seek out the appropriate contact in an organization
- generate leads and cold call prospective customers
- meet with customers/clients face to face or over the phone
- foster and develop relationships with customers/clients
- seek ways of improving the way the business operates
- attend seminars, conferences, and events where appropriate
- keep abreast of trends and changes in the business world.
- train members of your team, arranging external training where appropriate
- discuss promotional strategy and activities with the marketing department
- liaise with the finance team, warehousing, and logistics departments as appropriate
- understand the needs of your customers and be able to respond effectively with a plan of how to meet these
- think strategically – seeing the bigger picture and setting aims and objectives to develop and improve the business
- work strategically – carrying out necessary planning to implement operational changes
- draw up client contracts – depending on the size of the company. This task may be completed by someone else, or agreements may not be as formal
- please have a good understanding of the businesses’ products or services and be able to advise others about them
- ensure staff are on board throughout the organization and understand the need for change and what is required of them
- research and identify new business opportunities – including new markets, growth areas, trends, customers, partnerships, products, and services – or new ways of reaching existing markets.
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